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First seen in Japan in the mid-1990s, quick response codes could add momentous efficiency in the residential real estate world, allowing virtual tours of houses to take place on mobile devices.

But only 14 million American mobile device users have interacted with a QR code, according to recent study by digital business analytics firm comScore Inc. That means less than 5 percent of the American public has scanned a QR code.

Despite July 2010’s rank as the lowest home sales month since February – and despite recent news that existing home sales plummeted to a 15-year low nationally – Shelby County real estate professionals continue to emphasize the local market.

Shelby County home sales continued their downward spiral during the first quarter of 2009, proof that consumer confidence has yet to be restored and that credit issues have yet to be resolved.

Just 3,078 homes were sold in the first three months of 2009, down 25 percent from 4,101 in Q1 2008, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com. The period’s total marked the lowest first quarter since Q1 2001, which saw 3,107 home sales.

The real estate market hasn’t plunged as dramatically as the stock market has, but much like the Dow Jones industrial average, housing has seen better days.

The downward spiral continued in the third quarter of 2008 as residential sales declined 22.3 percent in Shelby County compared to the same quarter a year ago, according to the latest numbers from real estate information company Chandler Reports, www.chandlerreports.com.

Sales of existing homes in the South tumbled 18 percent in July from a year ago, while the median price fell 3.5 percent to $179,300, the National Association of Realtors said Monday.

Compared to the rest of the country, sales in the South were weaker, although prices held up better. Nationwide, July sales fell 13 percent from a year ago, while the median price slid 7.1 percent to $212,000.

For just the fourth time in almost four years, Shelby County home sales exceeded building permits in a single quarter, chipping away at inventory and giving the local real estate profession some much-needed good news during the holiday season.

Memphis has climbed to the top of another national list, but this one has nothing to do with crime or bankruptcy.

CNNMoney.com ranked the city No. 1 among the nation's most affordable housing markets as part of the Web site's Best Places to Retire survey released earlier this week. New York-based OnBoard LLC provided the data for the study.

Editor's Note: This is the third in The Daily News' three-part series "Housing Hurdles," an examination of the slumping real estate market and what it means for Realtors, builders and homeowners.

On the popular Home & Garden Television (HGTV) show "Designed to Sell," a team of experts is brought in to help homeowners spruce up their abodes with hopes of getting more offers - and more money - for their homes.

24. Home Sales Down 15%From May 2006 - Tuesday, June 19, 2007 The Memphis Area Association of Realtors (MAAR) has reported that total homes sales for May, as recorded by Memphis-area Realtors in the Multiple Listing Service (MLS), totaled 1,605, down 15 percent from the record sale

Home sales are down in Shelby County, but most area real estate practitioners aren't concerned. They remain bullish on the Memphis housing market, which is coming off an all-time sales record set in 2006.

Numbers say the real estate market in Collierville has been up and down for the past five years.

But while the town's home sales have indeed experienced a roller coaster ride, it's more akin to a children's version of the amusement park favorite with modest peaks and valleys rather than dramatic ones.

Dr. Richard W. Phillips has been named president-elect of Southern College of Optometry in Memphis. Phillips is a 1978 graduate of the college and the former regional executive director for Tennessee operations for TLC - Laser Eye Centers. He will be only the sixth person to hold the office in the college's 75-year history. Phillips will assume the presidency May 17. He is replacing William E. Cochran, who is retiring.

Michelle Blount has been named vice president and senior community banker for Wachovia Bank in Memphis. She has 12 years of experience in the financial services industry and most recently served as vice president in commercial banking for First Tennessee Bank.

Armstrong Allen attorney James F. Arthur III was named litigation practice group chairman for the firm. Arthur replaces Lucian Pera, who has served as litigation practice chairman for the past several years.

MAAR Confirms Officers, Board Members The Memphis Area Association of Realtors confirmed president-elect Bob Turner as 2004 president and elected Sue Stinson-Turner as 2004 president-elect. Neil Hub...

The Greater Memphis Chapter of the Construction Financial Management Association chapter meeting is 11:30 a.m. Wednesday at the Holiday In...

43. Archived Article: Memos - Wednesday, January 30, 2002 American Freightways Inc Jonathan Steen and Steve Regenwether were made Armstrong Allen partners after having both served two years as firm associates. Steen was an associate with Armstrong Allen since 1999 in the Jackson, Tenn., office. His practic...

44. Archived Article: Real Briefs - Tuesday, August 07, 2001 The Realtors Land Institute site selection seminar is 8 a The Tennessee Real Estate Commission seminars scheduled Wednesday and Thursday have been canceled. Due to the recent budget constraints, the state has canceled all travel by TREC. Benny Lende...

45. Archived Article: Real Briefs - Tuesday, July 31, 2001 The Realtors Land Institute site selection seminar is 8 a The Realtors Land Institute site selection seminar is 8 a.m. to 5:30 p.m. Wednesday through Friday at the Memphis Area Association of Realtors education center, 6393 Poplar Ave. Participants ...

46. Archived Article: Real Briefs - Tuesday, May 29, 2001 New officers of the Memphis Area Association of Realtors Multi-Million Dollar Club are Patty Rainey, president; Nancy Robinson New officers of the Memphis Area Association of Realtors Multi-Million Dollar Club are Patty Rainey, president; Nancy Robi...

47. Archived Article: Memos - Wednesday, October 29, 1997 Jeff Kelly has been appointed president of Fogelman Properties Inc Jeff Kelly has been appointed president of Fogelman Properties Inc.s property management subsidiaries, Fogelman Management Co. and Fogelman Management Services LLC. Kelly most recent...